The Supreme Court will have its task cut out in settling yet another contentious aspect of the Insolvency and Bankruptcy Code (IBC), once it starts hearing the Bhushan Power & Steel (BPSL) case. Although the Essar...
GMR completes stake sale in airport biz to Groupe ADP, gets Rs 4,565 cr
France’s Groupe ADP has infused Rs 4,565 crore, which is the second tranche of investment, in GMR Airports Limited (GAL) to conclude its deal to purchase a total of 49 per cent shareholding in the company, said an...
TVS Motor’s Singapore arm invested $16.57 million in US-based start-ups
TVS Motor (Singapore) Pte Limited, a wholly-owned subsidiary of TVS Motor created to invest in tech start-ups, has invested about $16.57 million in 2019-20. According to the TVS Motor annual report, the Singapore...
Unacademy buys medical exam preparation start-up PrepLadder for $50 million
In a bid to further strengthen its inorganic growth, Facebook-backed edtech start-up Unacademy has acquired postgraduate medical entrance exam preparation platform PrepLadder for $50 million. This is the Bengaluru-based...
Ampere acquires Noida-based E-three-Wheeler company Bestway Agencies
Ampere Vehicles, a wholly-owned electric mobility subsidiary of Greaves Cotton Ltd, today announced the acquisition of Noida-based E-3Wheeler company Bestway Agencies Pvt Ltd (BAPL). Through this acquisition, Ampere...
Hitachi completes merger of its JV business unit with Power India
Hitachi has completed the merger of its joint venture power business unit with ABB Power Grids, known as Power India, a statement said on Wednesday. The merger follows the completion of the global merger of the energy...
Shale pioneer Chesapeake Energy largest US oil producer to seek bankruptcy
Chesapeake Energy Corp filed for Chapter 11 on Sunday, becoming the largest US oil and gas producer to seek bankruptcy protection in recent years as it bowed to heavy debts and the impact of the coronavirus outbreak on...
US Fed invests $428 million in Walmart, oil firms, tobacco giant and others
The US Federal Reserve bought $428 million in bonds of individual companies through mid-June, making investments in household names like Walmart and AT&T as well as in major oil firms, tobacco giant Philip Morris...
Competition Commission approves Facebook-Jio deal worth $5.7 billion
The Competition Commission of India (CCI) on Wednesday approved Facebook’s Rs 43,574 crore ($5.7 billion) investment in Jio Platforms, the digital arm of Reliance Industries. “@CCI_India approves acquisition of 9.99 per...
Anil Ambani planning to increase stake in Reliance Infra, Reliance Power
Anil Ambani, chairman of Reliance Infrastructure (RInfra) and Reliance Power (RPower), told shareholders at a virtual annual general meeting (AGM) on Tuesday that promoters will increase their stake in the firms. Ambani...
Drone start-up TechEagle to part ways with Zomato, venture into health care
TechEagle, the drone manufacturer and consultant start-up Zomato acquired in December 2018, has decided to part ways with the food delivery firm and said it will venture into the healthcare sector. “It was well thought...
Complete tech integration with OBC, United Bank of India this fiscal: PNB
With the merger process over, state-owned PNB is looking to complete the technology integration of Oriental Bank of Commerce and United Bank of India with itself by the end of the current fiscal, the head of the...
